Molson Coors Beverage (NYSE:TAP) Price Target Cut to $57.00 by Analysts at Barclays

Molson Coors Beverage (NYSE:TAP - Free Report) had its price target cut by Barclays from $60.00 to $57.00 in a research note released on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other brokerages have also recently weighed in on TAP. Morgan Stanley reduced their price target on shares of Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating on the stock in a research report on Friday, May 9th. Citigroup raised shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $47.00 to $57.00 in a report on Wednesday, February 5th. JPMorgan Chase & Co. dropped their price objective on Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating for the company in a research report on Thursday, January 30th. UBS Group lowered their price objective on Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Finally, StockNews.com upgraded Molson Coors Beverage from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $62.71.

Molson Coors Beverage Stock Performance

Shares of TAP traded up $0.90 on Monday, reaching $56.39. 1,251,180 shares of the stock traded hands, compared to its average volume of 2,104,776. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $64.66. The firm has a market cap of $11.42 billion, a price-to-earnings ratio of 10.55, a P/E/G ratio of 1.52 and a beta of 0.73. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. The stock's 50-day moving average price is $58.81 and its 200-day moving average price is $58.39.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $0.80 by ($0.30). The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.43 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The business's quarterly revenue was down 11.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.95 earnings per share. Equities analysts forecast that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Institutional Trading of Molson Coors Beverage

Hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings in shares of Molson Coors Beverage by 4.7% in the third quarter. Principal Financial Group Inc. now owns 211,812 shares of the company's stock valued at $12,183,000 after purchasing an additional 9,510 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Molson Coors Beverage by 1.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company's stock worth $2,046,000 after buying an additional 563 shares during the last quarter. Czech National Bank boosted its position in shares of Molson Coors Beverage by 5.8% in the 4th quarter. Czech National Bank now owns 37,873 shares of the company's stock valued at $2,171,000 after purchasing an additional 2,083 shares during the period. Pallas Capital Advisors LLC increased its stake in Molson Coors Beverage by 1.2% in the fourth quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company's stock valued at $975,000 after purchasing an additional 199 shares during the period. Finally, 180 Wealth Advisors LLC lifted its position in Molson Coors Beverage by 21.8% in the fourth quarter. 180 Wealth Advisors LLC now owns 8,679 shares of the company's stock valued at $497,000 after purchasing an additional 1,553 shares during the period. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Company Profile

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, spirits and energy, and ready to drink beverages.